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Statement from LABI President Stephen Waguespack on the House’s Overwhelming, Bipartisan Passage of SB418

May 29, 2020

This afternoon, the Louisiana House of Representatives overwhelmingly supported SB418 by Sen. Kirk Talbot (R-River Ridge), the Omnibus Premium Reduction Act, with a vote of 72-28. LABI President Stephen Waguespack released the following statement:

“Today marks a milestone for Louisiana's families, job-creators and hard-working citizens who are fed up with paying for outrageous auto insurance bills month after month. Now, both the House and the Senate have sent a very clear signal that there is bipartisan and broad support for this bill. You can feel the energy in the building today, whether its upstairs in the Governor’s office or downstairs in the Legislature. Everybody wants to get something done. I’ve never been more optimistic than I am right now that we will lower auto insurance rates for everyone in Louisiana, reduce frivolous lawsuits, and really bring some of the reforms that have been a long time coming in the Capitol.”

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Mitch Rabalais
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(985) 317-8509

About the Louisiana Association of Business and Industry

The Louisiana Association of Business and Industry was organized in 1975 to represent Louisiana businesses, serving as both the state chamber of commerce and state manufacturers association. LABI’s primary goal is to foster a climate for economic growth by championing the principles of the free enterprise system and representing the general interest of the business community through active involvement in the political, legislative, judicial and regulatory processes. Find out more information at